b. Prepare a Merchandise Purchases Budget for November and December. (Input all amounts as positive values. Omit the $ sign in your response.) Required purchase Capp Corporation is a wholesaler of industrial goods. Data regarding the store?s operations follow: ? Sales are budgeted at $240,000 for November, $250,000 for December, and $230,000 for January. ? Collections are expected to be 45% in the month of sale, 52% in the month following the sale, and 3% uncollectible. ? The cost of goods sold is 75% of sales. ? The company desires an ending merchandise inventory equal to 25% of the following month?s cost of goods sold. Payment for merchandise is made in the month following the purchase. ? The November beginning balance in the accounts receivable account is $59,000. ? The November beginning balance in the accounts payable account is $246,000. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. (Omit the $ sign in your response.)